Breast Cancer Diagnostics market size is expected to be worth around US$ 8.8 billion by 2030

The global Breast Cancer Diagnostics market size is expected to be worth around US$ 8.8 billion by 2030, according to a new report by Vision Research Reports.

The global Breast Cancer Diagnostics market size was valued at US$ 4.9 billion in 2020 and is anticipated to grow at a CAGR of 8.0% during forecast period 2021 to 2030.

Growth Factors

 The growth is largely attributable to the increasing geriatric population exposed to the risk of breast cancer and early detection coupled with increasing awareness about breast cancer.

The introduction of 3D mammography or digital breast tomosynthesis, which is more accurate than 2D mammography, supports market growth. This advanced technology can detect 40.0% more cancers than 2D mammograms and reduce patient recalls. Rapid technological advancements are a major factor expected to drive the market over the coming years.

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Companies are adopting strategies that allow them to use their resources to aid in the development of new products, as well as enhance their supply chain. In November 2019, Exact Sciences Corporation announced the acquisition of Genomic Health, which was expected to help enhance the company’s market position and offerings by acquiring its product portfolio. In January 2021, Hologic Inc. announced that it has agreed to acquire Biotheranostics for approximately US$ 230 million. Biotheranostics is a commercial-stage molecular diagnostics provider for breast and metastatic cancers.

Report Highlights

The instrument-based testing segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of 77.7% in 2020. Imaging is the first choice for general population-based screening of breast cancer patients. A biopsy is performed for a confirmed diagnosis in all breast cancer patients. Many organizations such as the National Breast Cancer Foundation, Inc. are undertaking initiatives to spread awareness regarding breast cancer, the benefits of early detection, and available treatment options.

 The diagnostics and predictive application segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of around 49.6% in 2020. The increasing trends of genetic testing may further contribute to the growth of the segment. An article suggests that around 26% of the women had genetic testing for cancer in 2020. Moreover, advancements in this field such as the development of biomarkers may support the growth of the market for breast cancer diagnostics.

The prognostic segment is expected to witness a significant CAGR over the forecast period. These tests are becoming increasingly important as they are being used to match patients with therapies. This, in turn, increases the survival rate of the patients substantially. 

The hospitals and clinics segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of around 55.2% in 2020. The increasing hospitalization of patients and the growing burden of the disease are expected to propel the growth of the segment. After the screening test, patients undergo biopsy for confirmatory testing in hospitals. Moreover, PET, CT, and MRI are used for checking disease progression and for the assessment of the effectiveness of cancer treatment.

The diagnostic centers and medical laboratories segment is expected to witness a significant growth rate over the forecast period due to an increase in the number of initiatives undertaken by governments to provide various services, such as reimbursement for diagnostic tests. Many healthcare institutions are working with laboratories to integrate different tests, such as mammography, ultrasound, and MRI.

The imaging segment dominated the market for breast cancer diagnostics and accounted for the largest revenue share of 75.6% in 2020. The factors such as the large volume of procedures, easy accessibility, and enhanced effectiveness are anticipated to drive the market. The blood tests segment is projected to be the fastest-growing segment during the forecast period due to several research studies being carried out globally by the research organizations and major players. The high efficacy of liquid biopsy tests is expected to drive the growth of the blood tests segment. As per a research published by the American Association for Cancer Research in April 2020, DNA blood tests are effective in the early diagnosis of breast cancer.

The blood test analyzes very small amounts of tumor DNA, called circulating tumor DNA, floating in the bloodstream. Researchers at MSK have found mutations in two extra genes PTEN and ESR1, that foster resistance to estrogen-blocking drugs using the liquid biopsy.

North America dominated the breast cancer diagnostics market and accounted for the largest revenue share of 46.9%, in 2020. The major factors contributing to the dominance of this region are the presence of major players, well-established diagnostic and screening infrastructure, technological advancements, high patient awareness, and favorable reimbursement policies.

In Asia Pacific, the market for breast cancer diagnostics is expected to witness the highest CAGR during the forecast period owing to the increasing incidence of breast cancer and the adoption of advanced diagnostic techniques. Additionally, the improving reimbursement guidelines and rising healthcare infrastructure are also expected to support market growth.

Key Players 

  • Hologic Inc.
  • Genomic Health (Exact Sciences Corporation)
  • BD
  • Danaher
  • Koninklijke Philips N.V.
  • Thermo Fisher Scientific Inc.
  • Myriad Genetics
  • Argon Medical Devices, Inc.
  • F. Hoffmann-La Roche Ltd.

Market Segmentation

  • Type Outlook 
    • Imaging
    • Biopsy
    • Genomic Tests
    • Blood Tests
    • Others
  • Product Outlook 
    • Platform-based Products
      • Next-generation Sequencing
      • Microarrays
      • PCR
      • Others
    • Instrument-based Products
      • Imaging
      • Biopsy
  • Application Outlook 
    • Screening
    • Diagnostic and Predictive
    • Prognostic
    • Research
  • End-use Outlook 
    • Hospitals & Clinics
    • Diagnostic Centers and Medical Laboratories
    • Others
  • Regional Outlook 
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

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